Spanish business solutions provider Delaware will invest some US$20mn over the next three years to expand its operations throughout Latin America, the International Finance Corporation (IFC) reported.
The investment will cover Colombia and Peru, where the firm's established centers shall be expanded; Brazil and Mexico, where it expects to launch new operations and business; and possibly other countries as well.
"Delaware is looking for institutional partners like IFC to participate in opportunities from increased IT market demand, which, after the global economic crisis, is rebounding," the IFC said.
As such, Delaware has petitioned IFC, the World Bank's private investment arm, for US$10mn in financing. The remaining US$10mn in the expansion plan would be divided between Delaware's internal cash and an additional co-investor.
The IFC's board expects to decide on the petition November 21.
Delaware Consultoría delivers IT and business process outsourcing services. The company started operations in 2000 and employs 715 people across Latin America (265 employees) and Europe (450).